– What a Bridge Loan Is All About. A bridge loan is a one that might be considered by some as a short-term loan. Many people and even businesses use this type of option to help finance a need until a more permanent financing solution is found.
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These bridge loans carry low fees and low interest rates. Lenders that offer this type of loan don’t earn much profit off the bridge mortgage; instead, they use the bridge loan as a way to promote other products for the bank. Unfortunately, you may not find any lenders who advertise bridge loans in your state.
Home Mortgage Loan Rates | Heartland Bank – Bridge Loan: Short term loan to bridge the borrower over to permanent financing. 6.661% APR and 6.00% fixed interest rate for 12 months term – based on a.